Financial Deepening and Economic Growth in Nigeria (1986 – 2010) | Raadaa
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Financial Deepening and Economic Growth in Nigeria (1986 – 2010)

By Dr. Adofu Ilemona  et al

Summary

This study empirically investigated the impact of financial deepening on economic growth in Nigeria between 1986 and 2010 using time series data sourced from the Central bank of Nigeria (CBN) statistical bulletin 2010 edition. This study employed the Vector Error Correction Mechanism (VECM) as well as the Johansen co-integration and granger causality tests and found out that causality runs from GDP to CBC and TDDC which means that economic growth causes financial deepening. Also, the findings of this study revealed that though GDP is affected by some variables of financial deepening yet past values of GDP have more impact on GDP than financial deepening. This study concluded by recommending that the productive base of the Nigerian economy should be strengthened and that saving mobilization by the commercial banks should be encourages and quantity of money in circulation should be increased.
Financial Deepening and Economic Growth in Nigeria (1986 – 2010)
 
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Published: February 2, 2018

Uploaded by: Dr. Adofu Ilemona

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Abstract

This study empirically investigated the impact of financial deepening on economic growth in Nigeria between 1986 and 2010 using time series data sourced from the Central bank of Nigeria (CBN) statistical bulletin 2010 edition. This study employed the Vector Error Correction Mechanism (VECM) as well as the Johansen co-integration and granger causality tests and found out that causality runs from GDP to CBC and TDDC which means that economic growth causes financial deepening. Also, the findings of this study revealed that though GDP is affected by some variables of financial deepening yet past values of GDP have more impact on GDP than financial deepening. This study concluded by recommending that the productive base of the Nigerian economy should be strengthened and that saving mobilization by the commercial banks should be encourages and quantity of money in circulation should be increased. 

About the Authors

Dr. Adofu Ilemona

Dr. Adofu Ilemona

Alehile, K. S

Alehile, K. S

Agama, J.e

Agama, J.e

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